Disruptive business models to have minimal impact: Oberoi

With online marketplaces like Airbnb starting operations in India, leading hospitality chain Oberoi Group today said such "disruptive" business models would have minimal impact on its operations.
"Disruptive business models are not affecting our businesses now. But we will continue to pay attention on these disruptive models," CEO and MD of EIH Ltd Vikram Oberoi told reporters after the company's AGM here.
"However it will be wrong to say that there will be absolutely zero impact in future. But the impact will be minimal," Oberoi said.
Online marketplaces like, Airbnb enables people to list, find, then rent vacation homes for a processing fee.

He said going by the kind of luxury properties Oberoi had in India and abroad, tourists would generally prefer to avail of the facilities provided in these hotels instead of opting for such online marketplaces.
Referring to room aggregators, he said they were partners in carrying the business forward.

In his speech to the shareholders, executive chairman of EIH Ltd P R S Oberoi said the first quarter of current fiscal suffered a loss owing to the closure of New Delhi Oberoi.
He said the hotel was closed for renovation and refurbishing at a cost of Rs 500 crore. It would be re-opened in April 2018.

Going forward, EIH would be more interested in managing properties rather than owning them.
"We are having too many real estate", he said.
Talking about Oberoi Grand Kolkata, he said a new restaurant would come up very shortly.